Meniga branches into Open Data with FCA licence

Meniga has obtained permission from the Financial Conduct Authority (FCA) to move beyond financial services into Open Data partnerships with the insurance, telecoms, retail and credit sectors.

The London-based FinTech, which providers digital banking solutions, has registered with the regulator as an Account Information Service Provider in the UK.

Meniga said the new permissions would enable its to expand its product offering beyond the financial services sector.

The company already has experience in working with non-traditional providers of financial advice such as insurers and retailers in the Nordics region, but the FCA licence means it can now provide regulated products and services, including account aggregation and transaction data from financial institutions.

The new offering will include licensed data retrieval, insights and analytics, and an Application Programming Interface (API) platform.

Georg Ludviksson, chief executive and co-founder of Meniga, said: “We will now be able to test new innovations against the Open Banking APIs and with real use cases, which will help us develop products of outstanding quality.

“A top priority of ours has always been to constantly improve, and we are now even better equipped to do so across multiple sectors and in line with technological advancements, to meet the rapidly evolving needs of the end consumer,” he added.

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